The provincial government has launched a new line of credit through Mendoza Fiduciaria so that producers of plums and peaches can finance the costs of harvesting, transporting, and drying the fruit.
With this tool, the State aims to encourage and promote the production of the sector, providing producers with the basic financial resources to harvest their crops and, if they don't send their product to the industry, to carry out the dehydration process so they can become non-perishable products. In both cases, exporting the products is one of the most profitable options due to the variation of the exchange rate.
Since 2015, canned peach exports have had a remarkable growth. In 2017, the country exported 8.5 million cans and in 2018, it exported 13.9 million, i.e. 64% more.
Meanwhile, the production of plum for industry in the 2017-2018 season exceeded 150 thousand tons, marking a record volume in the last decade.
In this context, the funds are intended to be used t pay the expenses that plum or peach producers must incur in to carry out cultural tasks.
The maximum amount for each applicant will be $300,000. When the sum does not exceed $150,000, the loan will be granted as a personal signature line of credit, otherwise the producers will have to have a collateral, mortgage, personal guarantee or SGR guarantees.
The capital will be amortized in two equal instalments with maturities that will operate on October 15 and December 15, 2019.
The applicable compensatory interest rate will be fixed and equivalent to 19% Annual Nominal.
Source: Gobernación Press
